Our Corporate team recently assisted SIS Ventures with the legal matters involved in two separate deals to provide funding for Glasgow University spinout, Solasta Bio and Aberdeen-based clean energy company, Trojan Energy.
SIS Ventures, part of the Social Investment Scotland group, aims to support and grow high impact organisations, with a focus on social enterprises (like charities and community interest companies) and mission-driven businesses.
Ian Mitchell, Partner in our Glasgow office worked with Rob Halliday, Senior Investment Manager at SIS Ventures, to complete the investment by SIS Ventures in Solasta Bio as part of a £1.3 million funding round to support the ongoing development of its unique nature-inspired pesticides, the first of their kind to be developed worldwide.
Ian commented: “We were delighted to assist SIS Ventures with their seed investment in such an innovative company.”
Established in May, SOLASTA Bio develops environmentally friendly products that meet a global need for new and effective crop protection. These biopesticides also preserve the ecosystem by protecting beneficial insects such as bees.
Alastair Smith, Edinburgh-based Senior Associate, provided the legal expertise assisting SIS Ventures to complete their investment as part of a late seed round investment of £2.2 million to support Trojan Energy to roll out its unique electric vehicle charging hubs and develop further commercial applications of its technology.
Alastair said: “It was exciting to be involved in this transaction supporting a forward-looking company like Trojan Energy and to advise SIS Ventures, which is entirely committed to backing impactful enterprises.”
The round, led by Equity Gap and with investment from SIS Ventures, Scottish Enterprise, and Alba Equity, will help to secure Trojan Energy’s vision is to make electric vehicle charging available to everyone, at a fair price and without inconveniencing other pavement users.
You can read more here.
